Zak Mir takes a charting look at some of the most closely followed small caps on the London Stock Exchange. Today’s charts are FTSE 100, DAX, Dow, Bitcoin, Ethereum, Gold, Alien Metals, Cobra, Fusion, ICFG, Mkango, NARF, Nativo, Orosur, Rome Resources, Reabold, Solvonis.
A quick, chart-driven view across major indices, crypto, gold and selected small-cap stocks I’m watching on the bulletin board. Below, I summarise the technical picture, key levels to watch and where I’m looking for price action to go over the coming weeks.
Major Indices
FTSE
The FTSE continues to edge higher inside a rising trend channel that goes back to May. We’re moving toward the upper end of that channel — the 9,400 area — which I still think is achievable by the end of next month, assuming no geopolitical shocks (peace in our time with Russia/Ukraine would obviously help).
- Current bias: Uptrend inside rising channel.
- Near-term target: 9,400 (end of next month).
- Downside guard: Keep an eye on the 1,920–1,930 area for meaningful weakness — ideally nothing below that.
DAX
The DAX is looking a little breathless. It’s testing a resistance line around 24,400 formed last month and is hovering around the 50-day moving average with the RSI sitting right on neutral 50. A decisive close above 24,400 would open the way toward 25,400–25,500 by the end of next month.
- Key breakout level: 24,400 (close above required).
- Upside target if confirmed: 25,400–25,500 (by end of next month).
- Support to defend: 23,000 area on any downside pullback.
Dow
The Dow is messy between the 50-day (43,400) and all-time highs around 45,000. The RSI has slipped back below neutral 50, so a test of the 50-day looks likely before we get a fresh leg higher. A failure to hold the 50-day would increase the risk of a move toward the lower channel around 42,400.
- Immediate support: 50-day (43,400).
- All-time highs to watch: 45,000 (possible topping risk).
- Risk on breakdown: Channel floor 42,400.
Cryptocurrencies
Bitcoin
Bitcoin showed a revival with a brief spike toward the 122 level but has slipped back into the range. I’m watching daily closes above 121 to push toward 132 — the top of the rising trend channel from March. Given recent false starts, I’d be targeting that move by the end of next month rather than the end of this month.
- Near-term confirmation: End-of-day close above 121.
- Target: 132 (top of March rising channel; end of next month outlook).
- Risk: Possible re-test of 114–115 even if we resume higher later.
- Position health: My sizing is still comfortable at 58 — no damage so far.
Ethereum
Ethereum has been the star lately and feels like the market’s favourite rotation. The chart has already hit the first target (3,500) and is approaching the second (4,400). The level I’m watching now is 4,500 as the rising trend channel line climbs with time — realistic while we hold recent support around 4,100. Best case here is stretching to 5,500 by the end of next month (upper parallel of the March channel).
- Support to hold: 4,100.
- Near-term target: 4,500 (channel resistance).
- Best case: 5,500 (end of next month).
Gold
Gold disappointed after news there would be no tariffs on imports. The metal has failed at the April resistance line (4,330–4,340) and the RSI is under 50. That leaves gold vulnerable to a retest of 3,300, with a worst case down toward 3,220–3,230.
- Immediate resistance: April trend line (4,330–4,340).
- Support/retest risk: 3,300.
- Downside tail-risk: 3,220–3,230.
Selected Bulletin Board Stocks
Below are the short technical rundowns and targets I discussed for each stock. These are charting observations — key levels to watch and the conditions that validate each upside case.
Alien Metals
- Structure: Rising trend channel; currently near the top.
- Target: 0.18p by the end of this month.
- Setup: A tidy bull flag running from 0.14p; RSI has rebounded several times above 15–20 levels — looks coiled for upside while above 0.13p.
Cobra
- Performance: New multi-year highs; strong momentum continues.
- Target: 4.0p by the end of this month (might arrive sooner).
- Condition: Upside valid while shares stay above the recent breakout area at 2.8p.
Fusion Antibodies
- Notes: Delivered both fundamental and technical performance.
- Support: Holding the old target area (13.25p) as new support.
- Target: A move above 14p, potentially to the low 20p area by the end of next month if momentum continues. Watch intraday support around 12p.
ICFG
- Context: RSI hit ultra-low territory — essentially the market capitulated.
- Observation: The big sell-off from 55–60p looks like it may have run its course.
- Target: Aim for 30p (just below old April support) as an initial upside; hold above 20p is constructive.
Mkango
- Chart call: The charting worked — target around 45p was essentially reached.
- Current: Intraday close above 45p would set a fresh target around 60p by the end of next month (while above 40p).
- Technical confirmation: Three clear RSI rebounds above neutral 50.
Narf / “The one asked about last month”
Someone asked my view last month and it’s been interesting — up 17% today on no news. The RSI has been above neutral 50 since March (a leading indicator), which suggests the stock could make a notable upside move. It’s trading inside a rising trend channel with a top near 0.87p.
- Target: 0.87p by the end of next month while holding the channel floor around 0.47p.
- Note: Multiple RSI signals above 50 are bullishly aligned.
Nativo
We hit the target at the top of a broadening triangle (0.85p) and closed the day above it. With that close, a fresh look to the upside is on the table — 1.2p to 1.25p is the next zone I’d expect by the end of next month, provided we stay above the old June peak (0.67p).
Orosur
Fresh leg to the upside: gap through the 50-day line was a giveaway last month, now with a bull flag breakout through 12.80p and above that we are looking for 17p by the end of this month.
Rome Resources
Roam bounced off the lower edge of a rising trend channel around 0.24p and rallied. The prior call was for 0.4p while above 0.24p — I still expect 0.4p by the end of next month, or sooner if positive news continues. On the micro side we need a close above ~0.06p to look to ~0.08–0.09p by the end of next month.
- Technical: Bounce from the 50-day moving average; 200-day looks to be turning up.
- Target(s): 0.4p (core), and 0.08–0.09p on the smaller breakout scenario.
Reabold
Bullish situation – crypto in the mix: Rising trend channel – need to break the 0.60p level, end of day close above that, we are looking for 0.80/0.90p.
Solvonis
Solvonis rallied ~10% after positive PTSD treatment news and gapped higher. The shares bounced off the old target at ~0.29p and above that level I’ve been flagging ~0.45p as the next meaningful target — achievable possibly by the end of this month depending on follow-on news.
- Support tested: ~0.29p.
- Target: ~0.45p (dependent on news flow).
Summary & What I’m Watching
Overall, my bias remains constructive across a number of fronts: the FTSE and bitcoin/ethereum rising channels are my primary macro themes, while the DAX and Dow need confirmation above key resistance and trend lines before I’ll get more bullish on those indices. Gold looks vulnerable in the short term after failing at trend resistance.
On the equity penny/board names, many setups are classic chart-based opportunities: clean breakouts, RSI rebounds and retests of prior targets acting as new support. Key rules I keep: watch the clear breakout/close levels, respect the support lines I’ve mentioned, and move targets out one month if momentum proves slower than expected.
I’ll be back with more updates tomorrow — in the meantime, keep an eye on the levels above and manage risk carefully.
“ Note:The levels and targets above are chart-based observations and not investment advice. Always do your own research and consider your risk tolerance before acting.”
Disclaimer & Declaration of Interest:
The information, investment views, and recommendations in this Zaks Traders Cafe interview are provided for general information purposes only. Nothing in this interview should be construed as a promotion or solicitation to buy or sell any financial product relating to any companies under discussion or referred to or to engage in or refrain from doing so or engage in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the commentator but no responsibility is accepted for actions based on such opinions or comments. The commentators may or may not hold investments in the companies under discussion.
